OBLEM The trial balance of Pacilio Security Services Inc. as of January 1, 2015, had the following mal balances: Cash Accounts receivable Supplies Prepaid rent Merchandise inventory 19 @ 5240) Land Accounts payable Salaries payable Common stock Retained earnings S62,860 20,500 150 2,000 2,160 4,000 980 1,500 50,000 39,190 During 2015 Pacile Security Services experienced the following transactions Retained earnings 39,190 During 2015. Pacilio Security Services experienced the following transactions: 1. Paid the salaries payable from 2014. 2. On January 15. purchased 20 standard alarm systems for cash at a cost of $250 each. 3. On February 1. paid the accounts payable of $980, but not within the discount period. company uses the gross method.) 4. On March 1. leased a business van. Paid S4,800 for one year's lease in advance. 5. Paid S7.200 on May I for one year's rent on the oflice in advance. 6. Purchased with cash $500 of supplies to be used over the next several months by the busine 7. Purchased with cash another 25 alarm systems on August I for resale at a cost of S each. 8. On September 5. purchased on aceount 30 standard alarm systems at a cost of $265. 9. Installed 60 standard alarm systems for S33.000. S22.000 of the sales were on account S11.000 were cash sales w Be sure to record cost of goods sold using the perpell FIFO method.) 10. Made a full refund to a dissatisfied customer who returned her alarm system. The sule been a cash sale for $550 with a cost of $260. 11. Paid installers and other employees a total of 521.000 cash for salaries. 12. Sold $45.000 of monitoring services during the year. The services are billed to the custom cach month. LUDUS SUU using the perpe FIFO method.) 10. Made a full refund to a dissatisfied customer who returned her alarm system. The sale! been a cash sale for $550 with a cost of $260. 11. Paid installers and other employees a total of $21,000 cash for salaries. 12. Sold $45.000 of monitoring services during the year. The services are billed to the custom each month. 13. Sold an additional monitoring service for $1.200 for one year's service. The customer p the full amount of S1,200 on October 1. 14. Collected $74.000 of accounts receivable during the year. 15. Paid an additional S6,000 to settle some of the accounts payable. 16. Paid $3.500 of advertising expense during the year. 17. Paid S2.320 of utilities expense for the year. 18. Paid a dividend of S15,000 to the shareholders. Accou Adjustments 19. There was $200 of supplies on hand at the end of the year. 20. Recognized the expired rent for both the van and the ottice building for the year. 21. Recognized the revenue earned from transaction 3. 22. Accrued salaries at December 31, 2015. were $1.000 Required a. Record the above transactions in general ournal orni b. Post the transactions to T-accounts c. Prepare a trial balance. d. Prepare an income statement. Statement of changes W derity balance sheel. and statement of cash low e. Close the temporary account 1. Post the closing the ta the Thaunts und an after-closing trial bulance 795 10.00 in Type here to search